Issuance of residential MBS was up 11.9% in the third quarter, thanks to a decline in interest rates that sparked increased refinance activity and bolstered purchase-mortgage lending. (Includes three data tables.)
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Delinquencies on securitized non-QMs are increasing. But market participants believe there is so much credit enhancement on the deals, plus home equity, that it’s a non-issue for now.
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Fed researchers say most mortgages will remain out of the money for the foreseeable future, which means redemptions of MBS in the Fed’s portfolio may remain below the cap of $35 billion per month.
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A new white paper says MBS investors can learn more about projected mortgage prepayment activity if MBS modeling is expanded to incorporate trended credit data.
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Subprime auto deals that experienced distressed servicing transfers last year saw swings in delinquencies and ultimately took an elevated level of losses, according to Kroll Bond Rating Agency.
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Initial estimates on Hurricane Helene’s impact; Ginnie to host summit with a focus on nonbanks; MSR financing securitization from Freedom; T-Mobile moves forward with cell phone financing ABS.
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